In 2018, 69% of the internet users purchased their goods and services online. 25% of shoppers avoid online shopping because they are worried about payment security or privacy (source Eurostat). EMV® 3-D Secure (3DS) is a messaging protocol that addresses these concerns. It promotes frictionless consumer authentication and enables consumers to authenticate themselves with their card issuer when making card-not-present (CNP) e-commerce purchases. The additional security layer helps prevent unauthorized CNP transactions and helps protect the merchant from exposure to CNP fraud.
EVM 3DS 2.1 protocol has already been in use for some time. It was initially developed to cover the PSD2 RTS SCA requirements in e-commerce transactions. It decreases the abandonment rate and at the same time increases the approved transactions rate. The cardholders ask for an even better payment experience and improved security. Key updates in version 2.2.0 are the exemptions to Strong Consumer Authentication (SCA) for the European Payment Services Directive (PSD2).
Five reasons for EMV 3DS 2.2.0:
- Identification and verification
- System initiated transactions
- Decoupled authentication
- Better user experience
- Promotion of frictionless flow – PSD2 exemptions
To learn how you can boost your approved transaction volume with EMV 3DS 2.2.0, proper handling of PSD2 RTS exemptions and the option for delegating the authentication, talk to our payment expert Ana Vuksanovikj-Vanevska.
EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.